Tampa (Lecanto) FL - Panera Bread

Description:

• Panera Bread has 15 years on their lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation
• The lease is signed by Panera, LLC, a subsidiary of the corporate entity
• Panera Bread, which was acquired by JAC Holding Company in 2017, is a leading fast-casual restaurant brand with over 2,180 locations

• Panera Bread is an outparcel to the Shoppes at Black Diamond, a new 29-acre retail development anchored by Target
• The Shoppes at Black Diamond will feature ALDI, KFC, Starbucks, 7-Eleven, Express Oil, Texas Roadhouse, and more
• The site is located at the signalized, hard corner intersection (shared with Walmart) of W. Norvell Bryant Hwy and N. Lecanto Hwy averaging 41,600 VPD
• Across from a new retail development that features Glory Days, Hobby Lobby, Panda Express, Arby’s, and more
• Brand new construction that will feature high quality materials, distinct design elements, and high-level finishes